Natwest account charged off?

wtang00

Hi,

I had an account with Natwest which I hadn't been paying into regularly. I'd had it for a while and had been paying the interest and charges when its exceeded the OD limit i.e. when they've called me to chase. I'm a full-time post grad student and have been putting sorting out my financial situation off until my course finally ends (in 2 months).

On the last occasion they called me, they reduced the charges on the agreement that I paid some money in (it was about £100) and kept to the limit in future. This was about 10 weeks ago.

Basically, I thought I'd set up a regular payment from my main account to keep the account within its limit, but this hasn't been the case. They called me once a few weeks ago, a call which I missed, and I subsequently didn't call them back.

I've now just received a phone call from a collections company (Allied International) who have advised that the account has now been closed and the collection of the debt passed to them.

I've done some small Google research on this and I'm now concerned that the Natwest account has been 'charged off'. I opened a subscription to a credit rating company (Equifax) to check and this doesn't seem to be the case? The file it returned showed my credit card, my main account, my mobile phone, basically everything apart from my Natwest account..?

My questions are:

1. Have I definitely been charged off?
2. Why isn't it on my credit file?
3. Should I worry about negotiating its removal? (I could potentially pay it off via a loan from my family)
4. Is it at all feasible to contact Natwest and pay off the balance and have things as they were..? i.e. with my account and OD facility back..?

Any other helpful advice would be very appreciated.

Will

KingElvis

I think what you have here is a delinquent account which has been passed to a collections agency (maybe an internal part of RBS group for a start)...expect them to chase you like a dog until you agree to repay what you owe.

If you ignore them, Natwest will eventually sell your debt to an external debt collection agency lock stock and two smoking defaults.

I would call these people and get it sorted out as soon as you can.

rb10

wtang00 wrote: »

1. Have I definitely been charged off?
2. Why isn't it on my credit file?
3. Should I worry about negotiating its removal? (I could potentially pay it off via a loan from my family)
4. Is it at all feasible to contact Natwest and pay off the balance and have things as they were..? i.e. with my account and OD facility back..?

Any other helpful advice would be very appreciated.

1. It sounds likely - although the way to check for certain would be to call Natwest.

2. Banks tend to only update the credit reference agencies on a monthly basis, so it'll probably take a few weeks to appear on your file.

3. I'd pay it off as soon as possible. See what cutbacks you can make, see if you can get an income to pay this off.

4. If you have in fact defaulted on this account, then I think you'll be lucky to get any account with an overdraft in the near future. It sounds as though you have another account with a different bank ... manage that account well, and you'll be able to gradually build up your credit score.